External ITGC Audits – An Internal Auditor's ... - IIA Dallas Chapter

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External ITGC Audits – An Internal Auditor’s OpportunityPlanningFieldworkWrap-upInternal Auditor Opportunities during Fieldwork…• Validate deficiencies early via a combined effort between Internal Audit, ExternalAudit and IT• Provide management’s workpapers timely and perform a thorough root causeanalysis on any deficiencies found• Clearly document Internal Audit’s test procedures and results in a manner thatfacilitates efficient reliance by the External Auditors• Communicate changes in your testing approach real time• Understand the interim deficiencies and perform additional procedures to help theexternal auditors understand the exposure and any mitigating controlsStay involved!PricewaterhouseCoopersPage 24
External ITGC Audits – An Internal Auditor’s OpportunityPlanningFieldworkWrap-upInternal Auditor Opportunities during Wrap-up…• Always come with a point of view on deficiencies• Understand differences in what management found versus your external auditors• Anticipate and perform additional procedures resulting from ITGC deficiencies tohelp the external auditors understand the exposure and mitigating controls• Aggregate and evaluate deficiencies via a defined framework (preferably one theexternal auditor uses)Help drive management’s deficiency evaluation to achievegreater reliancePricewaterhouseCoopersPage 25
Page 1 and 2: External ITGC Audits -An Internal A
Page 3 and 4: External ITGC Audits - An Internal
Page 13 and 14: ITGC External Scoping ITGC Audits -
Page 17 and 18: Linkage to the Financial Audit
Page 21 and 22: Internal Audit Involvement in theIT
Page 23: External ITGC Audits - An Internal
Page 29 and 30: Final Thoughts

External ITGC Audits – An Internal Auditor's ... - IIA Dallas Chapter

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